Time (trademarked in capitals as TIME) is a weekly American newsmagazine, similar to Newsweek and U.S. News & World Report. A European edition ( Time Europe) is published from London and covers the Middle East, Africa and Latin America. An Asian edition (Time Asia) is based in Hong Kong. Time publishes simultaneously in Canada, with separate advertising. The South Pacific edition, covering Australia, New Zealand and the Pacific Islands, is based in Sydney. As of mid-2006, Richard Stengel is the managing editor.